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Creating A Will

Creating A Will

 

 

 

 

 

 

 

 

 

Report By: ISHI KALSI

Writing of a will, or what we call in legal language as a testamentary instrument, is important in order to avoid the tussle over property and assets in the event of your death. It is important to note that the contents of the will only take effect once a person dies and not during his lifetime; therefore, it is important to state your wishes on the distribution of the assets clearly.

Firstly, a will is not valid unless the following requirements are met:-

1. That you have signed the will, or it has been signed by some other person in your      presence and by your direction.

2. That the will has to be signed by you in the presence of two or more adults of sound mind.

In the will, you may appoint an executor – a person who will competently deal with your property after your death and distribute it according to the wishes expressed. You must therefore appoint someone who you trust. A person may also appoint a guardian for his or her children in a will.

A will must contain the following information:

1. Your full names, postal address and ID number.

2. Names and addresses of the executors.

3. Name and address of the person who is to be appointed guardian of your child(ren), if desired.

4. Details of all the assets you wish to bequeath and full names of whom you wish to bequeath them to. If the property is land, details of the land, reference details and where it is situated. Further, if the person benefiting under the will is a minor, you may state the age at which you wish the minor to acquire the interest. You may also direct the executors to use any rental income of a property for the maintenance and education of the children, if you so wish.

5. Provision for any debts and liabilities accruing at the time of your death.

6. Details of creditors, if any.

7. Any wishes you may have to be respected upon your death e.g. wishes on donation of organs, if you want a cremation or who is to read your eulogy, etc.

Lastly, it is important to inform someone you trust where you have stored your will so that it may be obtained and  read upon your death.

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